My conveyancer has discovered a defect with the lease for the apartment we are purchasing in Axmouth and Branscombe. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
I own a freehold house in Axmouth and Branscombe but still invoiced for rent, why is this and what is this?
It is rare for properties in Axmouth and Branscombe and has limited impact for conveyancing in Axmouth and Branscombe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My wife and I are purchasing a flat in Axmouth and Branscombe. It might be a silly question but how we can trust a solicitor? On the day of competition we will need to deposit our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am assisting my aunt sell her flat in Axmouth and Branscombe. Will the solicitor commission the energy performance certificate or do I organise this?
After the demise of HIPs, EPC’s was maintained a mandatory component of selling a house. An energy assessment must be commissioned before the property is advertised. It is not as aspect of the sale process that lawyers ordinarily organise. If you are using a Axmouth and Branscombe conveyancing practitioner they may be willing to arrange EPC’s due to their contacts with long established Axmouth and Branscombe energy assessors
I recently had an offer accepted on an apartment in Axmouth and Branscombe. My financial adviser suggested a conveyancing practitioner. I paid an on account payment of £175. Shortly after, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Taking into account that I am about to part with hundreds of thousands of pounds on a house in Axmouth and Branscombe I would like to have a conversation with the lawyer regarding theconveyancing prior to appointing the firm. Can this be arranged?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you first talking to the conveyancer who will be doing your property ownership legalities in Axmouth and Branscombe.There is no ‘factory style conveyancing’ - every client is an important individual, not a case reference. The practices that we put you in touch with believe that the figure you are quoted for residential conveyancing in Axmouth and Branscombe should be the figure that you end up paying.
My father has suggested that I instruct his lawyers for conveyancing in Axmouth and Branscombe. Should I find my own property lawyer?
No doubt it’s preferable to choose a conveyancing lawyer is to have referrals from friends or relatives who have actually used the firm you're contemplating using.
Can you provide any top tips for leasehold conveyancing in Axmouth and Branscombe from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Axmouth and Branscombe can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers. You may think that you are aware of the number of years remaining on your lease but you should double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to where the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. A minority of Axmouth and Branscombe leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Axmouth and Branscombe state that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. Where you fail to have the approvals in place do not communicate with the landlord without checking with your solicitor first.
Axmouth and Branscombe Leasehold Conveyancing - Sample of Questions you should ask before buying
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Is anyone aware of any major works in the near future that will increase the service fees? You should be aware if it is less than eighty years it will affect the marketability of the flat. Check with your mortgage company that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. For most Axmouth and Branscombelease extensions you will be be obliged to have owned the property for two years before you are eligible to extend the lease. Best to be warned whether changing the roof or some other major work is pending to be shared by the leaseholders and will materially increase the the maintenance charges or result in a one off invoice.